(A) The Board of Directors of the District shall have the right to transact business on behalf of the District immediately after the appointment of its members.
(B) The Board of Directors shall have full powers to name its organization and to make bylaws and rules for the regulation and management of the affairs of the District not inconsistent with the provisions of this chapter.
(C) The Board of Directors shall have all powers necessary and proper to conduct the affairs of the District not inconsistent with the provisions of this chapter, including but not limited to:
(1) Preparing annually an Economic Improvement Plan and budget;
(2) Implementing the Economic Improvement Plan;
(3) Making policy for operation of the District;
(4) Managing the fiscal affairs of the District;
(5) Incurring, in the aggregate, short-term and long-term debt in amount not to exceed $500,000; and
(6) Such other powers as provided in KRS 91.750 through 91.762.
(D) The Board of Directors may contract with any person or corporation determined to have the needed expertise to manage and administer the day-to-day operations of the affairs of the District.
(E) The Board of Directors may undertake the following economic improvements within the District.
(1) The planning, administration, and management of development or improvement activities;
(2) Landscaping, maintenance, and cleaning, of public ways and spaces;
(3) The promotion of commercial activity or public events;
(4) The conduct of activities in support of business recruitment and development;
(5) The provisions of security for public areas;
(6) The construction and maintenance of capital improvements to public ways and spaces; and
(7) Any other economic improvement activity that specially benefits property.
(F) The District may operate on a calendar or fiscal year basis. No later than two months prior to the beginning of each year, the Board of Directors shall prepare and submit to the Metro Council for its approval an annual budget for the District. The Board of Directors shall also deliver a copy of the annual economic improvement plan to the Metro Council. The economic improvement plan shall describe the current and projected economic improvements to be undertaken in the year. The annual budget shall be presented in such form as shall be required by the Metro Government's Department of Finance and Budget or that Department's successor. The Board of Directors may not take any action or expend any money pursuant to the proposed budget until such time as it is approved by the Metro Council. If the Metro Council has not approved the proposed budget as of the first day of the new fiscal year, the budget of the previous year shall have full force and effect as if readopted until such time as a budget is approved.
(G) Prior to adopting the budget, the Metro Council shall hold a public hearing for the purpose of soliciting comments upon the proposed budget. Upon approval of the annual budget by the Metro Council, then the Board of Directors shall publish both it and the economic improvement plan pursuant to KRS Chapter 424 and shall mail by first class mail to each owner of benefited property a description of the economic improvement plan, the fair basis of assessment to be utilized, the estimated cost to the property owner, and the ratio that the cost to each property owner bears to the total cost of the economic improvements.
(H) The Board shall have an affirmative action plan consistent with Louisville/Jefferson County Metro Government Code of Ordinances §§ 37.65 through 37.71 for the hiring of the consultants or employees. The Board shall not discriminate on the basis of race, sex, sexual orientation and gender identity, marital status, religion, age 40 and over, color, national origin, because the person is a qualified individual with a disability, or because the individual is a smoker or nonsmoker, in any of its operations and shall include such prohibition in all of its contracts.
(1999 Lou. Code, § 151.02) (Lou. Ord. No. 203-1991, approved 8-30-1991; Lou. Ord. No. 0060-2001, approved 4-27-2001; Lou. Metro Am. Ord. No. 195-2006, approved 10-31-2006)